[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 2047 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 2047

To require enhanced disclosures to consumers purchasing flood insurance 
                        and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 12, 2007

 Mr. Coleman (for himself and Ms. Klobuchar) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require enhanced disclosures to consumers purchasing flood insurance 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Flood Insurance Disclosure Act of 
2007''.

SEC. 2. ADDITIONAL REQUIREMENTS OF INSURERS.

    Part A of Chapter II of the National Flood Insurance Act of 1968 
(42 U.S.C. 4051 et seq.) is amended by adding at the end the following:

``SEC. 1337. ADDITIONAL REQUIREMENTS OF INSURERS.

    ``(a) Disclosure of Noncoverage.--
            ``(1) In general.--Each insurance company or other insurer 
        shall disclose, in writing, to any homeowner or renter who 
        purchases a homeowner's or renter's insurance policy from such 
        company or insurer that such policy does not include flood 
        insurance coverage as described under chapter I.
            ``(2) Placement of disclosure.--The disclosure required 
        under paragraph (1) shall be--
                    ``(A) in English;
                    ``(B) composed in a clear and conspicuous manner; 
                and
                    ``(C) displayed on the insurance policy described 
                under such paragraph.
    ``(b) Disclosure of Eligibility.--Each insurance company or other 
insurer shall disclose, in writing, at the time of sale of any 
homeowner's or renter's insurance policy to the purchaser of such 
policy--
            ``(1) that such person may be eligible to purchase flood 
        insurance coverage as described under chapter I; and
            ``(2) the telephone number and Internet address by which 
        the purchaser can contact the National Flood Insurance Program 
        in order to obtain such flood insurance coverage.
    ``(c) Record Keeping.--Each insurance company or other insurer 
shall keep and maintain an accurate record of each disclosure provided 
under this section.''.
                                 <all>